Knowledge Marine awarded order by Paradip Port Authority

Knowledge Marine & Engineering Works Ltd, have been awarded the Letter of Award (LoA) by the Paradip Port Authority for supply of 01 No. 20 Knots Speed Patrol Boat with a manning crew on hire, for a contract valued at Rs 5,02,13,174/-, excluding GST (Rupees Five Crores Two Lakhs Thirteen Thousand One Hundred Seventy-four) only. This contract entails a daily hire charge for a period of five years. Additionally, in conjunction with the daily hire charges, Paradip Port Authority will provide Fuel (HSD) based on actual consumption.

Paradip Port Authority (PPA) is one of the major ports on the East Coast of India. The latest order win allows us to expand our operations on the East Coast, where we already provide services to one of the major ports, Visakhapatnam Port. We have already provided similar kind of boat to Visakhapatnam Port in the year 2022.

This order marks our third successful contract win in the fast-speed patrol boat category, underlining our growing presence and success in the small craft business. A new craft, the "High-Speed Patrol Boat" with a speed of 20 knots, will be added to our fleet soon.

Commenting on the Letter of Award, Mr. Sujay Kewalramani, CEO of Knowledge Marine & Engineering Works Ltd said that, "We are excited to announce our recent success in securing a contract with Paradip Port Authority, underscoring our company's exceptional performance and capabilities. This accomplishment signifies our expansion to additional major ports in India. This contract win reflects our ongoing achievements in the small craft business through the diverse range of services we offer. We are actively exploring new opportunities, both within our domestic market and on the global stage."

Shares of Knowledge Marine & Engineering Works Ltd was last trading in BSE at Rs. 1494.25 as compared to the previous close of Rs. 1483.20. The total number of shares traded during the day was 8375 in over 58 trades.

The stock hit an intraday high of Rs. 1520.00 and intraday low of 1481.05. The net turnover during the day was Rs. 12536562.00.

Source : Equity Bulls

Keywords

KnowledgeMarineandEngineeringWorks INE0CJD01011 OrderWin LOA ParadipPortAuthority